EnteroBiotix Completes £27m Financing Round to Advance Clinical Trials
EnteroBiotix CEO, Dr James McIlroy
Glasgow, Scotland – 4 April 2024. EnteroBiotix Limited, a clinical-stage biotechnology company focussed on developing best-in-class full-spectrum microbiome therapeutics, today announced that the Company has completed its £27m ($34m USD) funding round, supported by new and existing investors. The funding will be used to advance EBX’s lead product candidate, EBX-102-02 through a Phase 2 clinical trial in Irritable Bowel Syndrome (‘IBS’) in partnership with the Functional Gut Clinic, as well as to progress its pipeline for other conditions linked to a disrupted gut microbiome, including liver cirrhosis and hepatic encephalopathy (‘HE’).
The financing, which comprises £15.7m of new equity and the conversion of £11.6m of loan notes into equity comes from experienced US-based life science investors Thairm Bio and Kineticos Life Sciences, as well as the Scottish National Investment Bank (‘the Bank’). Existing investors including Scottish Enterprise and many of the Company’s private investors also participated.
Dr James McIlroy, CEO of EnteroBiotix, said: “This significant new investment helps enable our vision of transforming the standard of care for patients suffering from serious conditions linked to the gut microbiome. It will help accelerate the development of our innovative product pipeline and propels us towards our goal of bringing these innovative treatments to market. We look forward to working closely with our new partners at the Bank and with our existing investors to bring this vision to fruition, for the benefit of patients across the globe.”
Media contacts
EnteroBiotix
Dr James McIlroy, CEO
j.mcilroy@enterobiotix.com
Scius Communications
Katja Stout
+447789435990
katja@sciuscommunications.com
Daniel Gooch
+447747875479
daniel@sciuscommunications.com
Charlotte Street Partners (for Scottish National Investment Bank enquiries)
Anna Dickens (07522 558917) or David Gaffney (07854 609998)
About Irritable Bowel Syndrome (IBS)
IBS is a chronic relapsing functional gastro-intestinal disorder, with patients experiencing a range of symptoms, such as chronic abdominal pain, cramping, bloating and change in bowel movements – which may include constipation, diarrhoea or both. It is estimated that up to one in eight people suffer from IBS type symptoms, and there is approximately an equal split between patients experiencing predominantly constipation (IBS-C) versus diarrhoea (IBS-D). IBS has a very significant healthcare and economic burden.
About EnteroBiotix
EnteroBiotix is a clinical-stage biopharmaceutical company developing best-in-class full-spectrum microbial therapeutics for patients with serious unmet medical needs. The Company is leveraging its product platform to address patient needs through a pipeline of tailored high-diversity products that fortify and restore the microbiome.
EnteroBiotix has a strategic partnership with Imperial College London to enable clinical trials in high-unmet need clinical indications and recently announced the initiation of a Phase 2 clinical trial in IBS. The Company has completed patient enrolment in a Phase 2 clinical study in liver cirrhosis.
EnteroBiotix has differentiated platform manufacturing technologies and a well-developed analytical toolkit that confers superior product characteristics. The Company operates sophisticated MHRA licensed manufacturing infrastructure, together with its Number 2® brand, which ensures the safety, security, quality, and sufficiency of supply of microbiota obtained from healthy human donors.
Established in 2017, EnteroBiotix is headquartered in Glasgow, Scotland, and operates research laboratories and MHRA licensed GMP pharmaceutical manufacturing sites in Glasgow and Aberdeen. The Company has now raised over £47m from investors, including Thairm Bio, Kineticos Life Sciences, the Scottish National Investment Bank and Scottish Enterprise Growth Equity.
About The Functional Gut Clinic
The Functional Gut Clinic (FGC) is the UK’s leading independent provider of gastrointestinal physiology testing and diagnostics. FGC provides both private and NHS services around the UK and are the only independent GI physiology clinic to have IQIPS / UKAS and CQC accreditation. Established in 2013, FGC has an extensive R&D and Clinical trials portfolio helping to design and test future digestive health tests and treatments.
For more details see https://thefunctionalgutclinic.com
https://uk.linkedin.com/company/functional-gut
About the Scottish National Investment Bank
The Scottish National Investment Bank (The Bank) is Scotland’s first development investment bank, wholly owned by the Scottish Government ministers on behalf of the people of Scotland since its establishment in November 2020. It is a public limited company (PLC), that operates independently from government.
The Bank provides patient (long term) debt or equity investments to businesses and projects throughout Scotland to support the development of a fairer, more sustainable economy. As an impact investor, the Bank is focused on delivering both commercial returns and impacts that align with at least one of its three missions:
Net zero: Addressing the climate crisis through growing a fair and sustainable economy
Innovation: Scaling up innovation and technology for a more competitive and productive economy
Place: Transforming communities to make them places where everyone thrives
The Scottish Government has committed to capitalising the Bank with £2bn in its first 10 years. Over time as the Bank’s initial investments are repaid, the Bank will reinvest those funds in businesses and projects, creating a perpetual investment fund to support the Scottish economy in the long term.
